Serve Robotics (NASDAQ:SERV) Upgraded to Strong-Buy at Guggenheim

Serve Robotics (NASDAQ:SERV - Get Free Report) was upgraded by research analysts at Guggenheim to a "strong-buy" rating in a research note issued on Monday, Marketbeat Ratings reports.

Several other brokerages have also issued reports on SERV. Freedom Capital raised Serve Robotics to a "strong-buy" rating in a research note on Wednesday, December 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Serve Robotics in a research note on Friday, March 27th. Loop Capital set a $16.00 price target on Serve Robotics in a research note on Wednesday, December 31st. Cantor Fitzgerald dropped their price target on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 17th. Finally, Northland Securities reissued an "outperform" rating and issued a $26.00 price target on shares of Serve Robotics in a research note on Friday, January 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $17.67.

Serve Robotics Price Performance

Shares of SERV stock opened at $9.99 on Monday. The business's 50 day simple moving average is $9.29 and its 200 day simple moving average is $11.14. Serve Robotics has a one year low of $5.01 and a one year high of $18.64. The stock has a market capitalization of $756.14 million, a PE ratio of -6.28 and a beta of 2.26.

Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.03. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%.The business had revenue of $0.88 million for the quarter, compared to analysts' expectations of $0.77 million. As a group, research analysts expect that Serve Robotics will post -2.39 earnings per share for the current year.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 14,541 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $8.62, for a total value of $125,343.42. Following the transaction, the chief executive officer directly owned 3,320,373 shares of the company's stock, valued at approximately $28,621,615.26. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Touraj Parang sold 5,998 shares of the company's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $10.33, for a total value of $61,959.34. Following the transaction, the chief operating officer directly owned 1,323,685 shares in the company, valued at $13,673,666.05. The trade was a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 88,837 shares of company stock valued at $866,279. 21.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Serve Robotics

A number of institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Serve Robotics during the first quarter worth approximately $163,000. Purpose Unlimited Inc. acquired a new position in shares of Serve Robotics during the fourth quarter worth approximately $237,000. Hsbc Holdings PLC acquired a new position in shares of Serve Robotics during the fourth quarter worth approximately $1,061,000. Caitong International Asset Management Co. Ltd raised its position in shares of Serve Robotics by 527.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 52,874 shares of the company's stock worth $549,000 after purchasing an additional 44,442 shares during the period. Finally, Walser Wealth Management Company A Ltd Liability Co acquired a new position in shares of Serve Robotics during the fourth quarter worth approximately $115,000.

About Serve Robotics

Serve Robotics develops and operates autonomous sidewalk delivery robots designed to transform last-mile logistics for restaurants, retailers and grocery brands. By combining proprietary hardware, sensor suites and dispatch software, the company enables on-demand deliveries of food, beverages and consumer goods while minimizing reliance on traditional vehicle fleets.

The core Serve robot integrates four-wheeled mobility, LiDAR and vision cameras with AI-driven navigation algorithms to detect obstacles, traverse urban sidewalks and interact safely with pedestrians.

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